Olam to generate positive free cash flow this year

SINGAPORE (May 16): Commodities trader Olam International is on track to generate positive free cash flow to equity (FCFE) by the end of this year, says chief financial officer Neelamani Muthukumar.

This should address previous criticism about the company’s inability to generate free cash flow.

For 1Q17 ended March, Olam’s free cash flow before capital expenditure and investments increased 5.8% y-o-y to $177 million. FCFE also improved, from negative $283.8 million in 1Q2016 to negative $41.5 million in 1Q17.

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